The secretary may from time to time, upon first giving the applicant or licensee an opportunity for a hearing on the matter, (1) deny any application for a license, (2) refuse to renew any license, (3) suspend any license for a time or upon a condition having a reasonable relation to the administration of the provisions of sections 71-3201 to 71-3213, or (4) revoke any license issued or renewed under the provisions of sections 71-3201 to 71-3213 (a) upon a determination that there has been a significant change in those individuals participating directly in the management of the applicant’s or licensee’s business in the State of Nebraska or that, (b) by reason of such applicant’s or licensee’s failure to comply with the provisions of sections 71-3201 to 71-3213, insolvency, bankruptcy or other bad or improper conduct upon the part of such applicant or licensee or upon the part of any officer, agent, or employee of such applicant or licensee within the scope of the office, authority, or employment of such officer, agent or employee, or (c) when for any other suitable reason the granting of a license to such applicant or the continuation of such licensee’s license is not consistent with the public interest and welfare.